Offshore Transmission Owners
Offshore Transmission Owner (“OFTO”) projects are key infrastructure assets facilitating the development of offshore wind power generation.
OFTO projects involve the acquisition and operation of power transmission cables and associated electrical equipment connecting offshore wind farms to the onshore grid.
These projects operate under a licence awarded by Ofgem, the UK’s electricity regulator. 3i has played a key role in the financing of this infrastructure. Funds advised or managed by 3i own holdings in five OFTO projects in the UK, representing more than one third of the OFTO assets tendered in the UK to date.
Further OFTO assets are being tendered in the UK in 2016. We intend to leverage our track record to seek investment in more assets of this type both in the UK and elsewhere in Europe, where similar opportunities may arise.
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